Global Smart Grid Transmission and Distribution Equipment Market 2016-2020

Outlook of the smart grid transmission and distribution equipment market

Extensive research carried out by the analysts at Technavio has shown that the global smart grid transmission and distribution (T&D) equipment market to grow at a CAGR of more than 16% over the forecast period. One of the primary factors driving the growth of this market is the rapid modernization of grid. An aging power infrastructure, need for mitigation of cybersecurity risk, and the addition of new resources to the grid have resulted in the electricity and power sector to find ways to make the grid more reliable and flexible to suit the rapid changes in the supply and demand. This has led to the modernizing of the grid by implementing smart grids that use digital and information technology to manage the power flow efficiently. Moreover, according to the International Energy Agency significant investments are made for the refurbishment and replacement of the T&D infrastructure, thereby propelling the growth prospects for this market in the coming years.

In this market study report, the analysts have estimated factors such as increasing substation automation and control to aid in the growth of this market over the predicted period. The rising demand for electricity around the world is influencing utilities to operate power plants at full capacity and produce power efficiently. This has led to an increasing automation process in the grid and a growing need for awareness about the grid conditions at all times. Moreover, automation also helps reduce the overall costs as possibilities of a system failure due to negligence are avoided. Furthermore, remote terminal units (RTUs) are control devices that help in managing and monitoring substations from a remote location. These terminal units show real-time data of the grid, underlining concerned areas such as points of high T&D losses that help operators address the problems. Therefore, an augmented demand for RTUs will also aid in the growth of the market until the end of 2020.

Product segmentation and analysis of the smart grid T&D equipment market

• High-voltage direct current (HVDC)
• Volt-Ampere Reactive (RTU)
• Flexible AC transmission system (FACTS)
• Volt-Ampere Reactive (VAR)
• Synchrophasors